City Bank & Trust Co. v. Commercial Casualty Co.

TALIAFERRO, Judge.

Defendant executed and delivered to the Merchants & Farmers Bank of Natchi-toches, La., on February 19, 1933, its fidelity bond wherein it obligated itself, under the conditions and within the limitations therein stipulated, to reimburse said bank for any pecuniary loss sustained of money, securities, etc., occasioned by the larceny or embezzlement of its cashier, Lawrence Phillip Cloutier. He absconded on May 17, 1933. A prompt audit of the bank’s affairs disclosed a shortage of over $10,000, including a cash deficit of $3,416.-28. On May 20th, there was returned to the…